Yesterday, we focused on what financial advisors can do to help women navigate the financial implications of the end of a marriage. Today, we’ll discuss how to assist recently widowed clients.
A 2018 UBS Investor Watch Survey found that nearly 70 percent of married women from around the world believe they’ll outlive their husbands. This belief is confirmed by recent U.S. government data showing that women are living longer than men by roughly five years. Yet many of the women who experience a husband’s death are unprepared to handle the major financial issues that suddenly fall on their lap. That’s especially true for women who’ve abdicated control of financial planning and investing decisions to their spouse over the years.